NCUA Requests Comment on Proposed Revisions to CUSO Regulations

CUNA
May 15, 2008 | COMMENTS

NCUA is proposing to amend its credit union service organization (CUSO) regulations by expanding and clarifying permissible CUSO activities. In addition, the proposed rule would give NCUA access to the books and records of CUSOs that are owned by federally-insured, state-chartered credit unions (FISCUs); require FISCUs to maintain a separate corporate identity from their CUSOs; and would limit the ability of undercapitalized federal credit unions (FCUs) to recapitalize a CUSO. Comments are due to NCUA 60 days after publication in the Federal Register. Please submit your comments to CUNA by June 7, 2008.

> Read the rest of the comment call and questions here at cuna.org